Author: jayrajbuilders

Founded in 1994 by Jayesh Dave, Jayraj Builders specializes in building residential and commercial spaces, and is a registered company. The realty group Jayraj Builders is based in Vadodara. Its various projects include villas, luxurious apartments, and business hubs. Jayraj Builders Vadodara is well-known for initiating projects infused with core ethics. It is committed towards providing top quality constructions and the best-in-class interior/exterior designing. The company has constructed residential as well as commercial spaces at prime locations of the city.

Larger Carpet Area in a Building Guarantee a Bigger Usable Space

Jayesh Dave Managing Director Jayraj Group Brings To You a Series of Myths In Real Estate.

Real Estate Myth #I : Larger Carpet Area in a Building Guarantee a Bigger Usable Space

Do you often go out shopping? If yes, then you must have observed that almost everyone checks that the measurement for even everyday consumption items like vegetables, fruits, etc, remains accurate. However, the same concern mostly remains missing when investing in one of the most expensive things of lifetime, i.e. house.

In construction terminology, the most common parameter to check the usable space within a house is its carpet area, as it is certainly a significant improvement over built up area, as the latter includes the wall thickness as well, which is not less than 300mm.

For example, two apartments located in the same building might appear similar at first glance. However, the real situation may vary, says Jayesh Dave, Chairman of Jayraj Builders. Let’s assume for a minute that both of these apartments have the same layout with identical carpet area as well. It may all look fine as the difference can only be experienced once you see the walls present between the rooms, as their positioning can determine the usability of the space or a room.

In high rise buildings, the apartments located on lower floors have thick RCC columns that bear the load of the building. As you go up, the walls can be little linear as they don’t have to bear as much load as the ones present on the stilt or ground floor. Hence, in a high rise building, people usually prefer an apartment that is present at the middle.

Besides this, as per the Real Estate (Regulation and Development) Act, 2016, balcony is not a part of the carpet area. Thus, a design may include the same carpet area but big balconies can provide a better comfort level for inhabitants.

Therefore, it would be important that such technical factors are considered before arriving at the actual usable space available in the apartment— a necessity before saying ‘yes’ to buying the property. Decisions based purely on carpet area could be misleading. Hence, choose your apartment wisely, considering all the factors such as the interior space, balconies and the carpet area.

Source : Indian Property Journal

Model Tenancy Act Aims At Resolving Rental Housing Dispute, Boost To “Housing For All”

Source: Indian Property Journal

Through Union Budget 2019, the Government has envisioned for inclusive growth by targeting multiple sectors in the nation. Amongst them, one that has surprised many is “Model Tenancy Act”. It has been well received by real estate developers and is touted to be in the direction of the Government’s ambitious initiative “Housing for All” by 2022.

Jayesh Dave, MD Chairman of Jayraj Builders Vadodara, says that at present the rental market in India faces a lot of issues. There has been a lack of attention for proper legislation and conflicts between owner and tenant remain quite common. Policy formulations are always a plus in any sector and this step by the Government of India can bring a lot of transparency in the rental housing.

Emphasis has been given to speedy redressal of the disputes by specifically outlining the responsibilities of both the landlords and tenants. There is a proposal for Rent tribunals to hear appeals for matters connected to disputes over rental housing. With a defined rental policy in place, opportunities for students, working professionals to find accommodation becomes easy.

The rental housing market in India remains an underdeveloped sphere despite acute housing shortage. Major factors are often contributed to drawbacks such as lack of rental policy and low rental yield. There was thus the need for a government initiative to counter such drawbacks. With Model Tenancy Act, 2019, the government has laid down the following new objectives:

Security deposit shouldn’t exceed 2 months in residential and one month in non- residential properties.
In case of termination of the rental agreement by an order, notice, the tenant must vacate the premises. Failure to do so, will entitle landlord to receive the compensation of double the monthly rent for two consecutive months.
The property owner must give prior notice of 3 months before revising the rent value.

Mr Jayesh Dave said, with these objectives the government is trying to resolve the much disputed premise in India. These objectives have the potential to aid Government’s ambitious initiative “Housing for All”. However, the Act is not binding on the states as the urban development is a state subject as per the federal system of India. It is still to be seen if the states choose to implement these guidelines.

Rental Housing concept is significant in most of the developed nations and if implemented well, it can boost the current situation and transform the way rental housing concept is perceived in India. It is important that states scrutinize the points outlined in this initiative and implement them in the rental housing market to bring transparency and benefits to the consumers.

RBI Repo Rate Cut by 25 basis Points; Real Estate Sector Lauds The Move

Recently, RBI reduced repo rate by another 25 basis points. It is expected to bring down construction costs and home loan interest rates, giving a boost to the real estate sector. RBI has cut the repo rate by 50 basis points since February 2019, bringing it down to 6 percent.

“This step by RBI is going to augment the real estate sector. The sector has already started improving after several steps taken by RBI and the government,” says Jayesh Dave. The March quarter has witnessed 12 percent increase in housing sales across the top seven metro cities, all credit goes to various measures by the government and RBI.

“After reducing the repo rate, RBI has done its work. Now banks should reduce home loan interest rates further so the step by RBI could reach end term customers. Doing this will encourage people to purchase property,” said Mr Jayesh Dave. He also added that lower interest rate clubbed with reduced GST rates for under construction properties will enhance the demand of property amongst the buyers, improving overall real estate sector.

Repo rate is the interest rate at which RBI lends money to bank. Lower cost of borrowing directly impacts the EMIs you are paying for your loans. For instance, if the current rate of interest offered by SBI is 8.75% then consider a Rs 30 lakh loan amount for 15 years tenure for your home loan and the EMI which you will have to pay will be Rs. 29,983. But with the reduced interest rate to 8.5%, your EMI will come down to Rs. 29,542. The total amount which you are going to save will be Rs. 80,000.

“At large the repo rate reduction is going to affect the overall Indian economy. It will reduce the borrowing costs of MSMEs, corporates and retail borrowers. This will boost the private consumption and private capex. Also, this will definitely bring up private consumption and housing demand,” stated Jayesh Dave.

Eligible new borrowers can take advantage of Pradhan Mantri Awas Yojana (PMAY). The scheme offers credit-linked subsidy based on your annual income under the flagship ‘housing for all’.

Source: The Voice Of Nation

Jayesh Dave MD Jayraj Builders Vadodara lists things to consider while purchasing a commercial property

Jayesh Dave Buying Commercial Property Tips

The idea of moving your business into a new commercial space is an exciting one. However, it’s only half the battle. Jayesh Dave, MD of Jayraj builders Vadodara, lists a few important factors that must be considered before making a commercial real estate purchase:

Table of content

1. Location

2. Budget

3. Physical condition of the property

4. Property and its allowable purposes

5. Limitations to modify

6. Availability of support services

7. Infrastructure and neighbourhood

8. Take into account your deposit

9. Think with your head, not your heart

10. Hidden Costs

1.Location:

It is very important to consider distance from end user & suppliers. The business must be accessible to the end user to be successful. Also, connectivity via road, rail or water transport is required to run the business successfully.

2.Budget:

According to Jayraj Builders MD Jayesh Dave, it is critical for the investor to lay down the budget allocation towards the property cost amongst all other business related transactions. “This also helps in easy selection of the commercial property amongst the available options,” says Jayesh Dave

3.Physical condition of the property:

How the property was used before your purchase is an important thing to know about. This gives an idea of wear and tear the property in question must have gone through and what kind of repairs it might need in the future.

4.Property and its allowable purposes:

Every kind of business would put the property to a different purpose. For example, a CA firm would need an office space whereas a factory owner or a manufacturer would put property to industrial uses. Thus, it becomes critical to know the lawful use that the property can be put to before finalizing.

5. Limitations to modify:

Based upon the applicable laws properties have, there are restrictions on modifying the exteriors of interiors of the property. Jayesh Dave suggests studying the laws in detail and being clear of your requirements.

6. Availability of support services:

Services like parking, lift, security, etc. must also be paid heed to while finalizing the commercial real estate. If available, these services not only help in running the business successfully but also contributes to the resale value or determine a better rental in the future.

7.Infrastructure and neighbourhood:

Infrastructure development in the area affects the property value to a great extent – both positively and negatively. Developments like railway line construction might affect the value of your property value, suggests Jayraj Builders Vadodara MD Jayesh Dave.

8.Take into account your deposit:

Several businesses find it easy to ignore that they might need to place down a large deposit amount. It is important to think about how much money you have available, and whether or not you would be able to put down a substantial deposit.

9.Think with your head, not your heart:

It is vital to be rational while making a property purchase. Don’t just jump head-first into buying a commercial property without having done your fair share of research and considering other options

10.Hidden Costs:

Several properties have certain hidden costs associated with running and maintenance of the property. These potential costs must be estimated in advance and discussed in the contract itself before sealing the deal, suggests Jayesh Dave.

Got any queries? Let us know in the comments section!

Source: Topten.com

Why Location is an Important Factor to Consider Before Buying a Home

Buying an ideal house is a dream for many. However, there are several factors that an individual needs to consider before spending his hard-earned money on this asset. One of the most important things to consider while buying a house is its location, reviews Jayraj Builders.

Location is an exciting prospect for a homebuyer, since it determines the value of his property to a great extent. Living at the center of the city, a place where everything is accessible, is desirable to most. However, this can be a problem in disguise of a blessing. Increasing population in urban areas has become a massive challenge for the authorities that are finding ways to tackle this problem.

Moreover, the rising standards of living are also drawing people to the urban areas. Considering all these facets, it has become imperative to review the location of house before sealing the deal. The constant struggle between affordability and accessibility is one of the major issues as well. At this juncture, a buyer needs to study the market and take smart decisions to choose the right option, suggests Jayraj Builders, one of the top builders in Vadodara.

There is not much space available in the center of the cities, which is anyways too costly. A perfect location at this stage would be the outer ring roads of the major cities, or areas in close proximity to the business hubs, with well-connected roads. According to Jayraj Builders Vadodara MD Jayesh Dave, locations like Race Course, New Alkapuri, Old Padre Road, Akota, Bhayli, etc. are proving to be the perfect cushions for major city centers of Vadodara.

In a similar fashion, the residential properties near outer ring roads have been preferred the most in other major cities. In the capital city of New Delhi, the extended parts of NCR (National Capital Region) have attracted a large host of buyers over the years. The exasperating pace of urbanization and modern living demands a place that can diminish the strains of travelling back and forth every day.

At this juncture, the extended arms of big cities play a crucial role in addressing to the housing needs of the ever-growing metros. Living at these locations can provide much needed comfort and peace to the residents, who can enjoy a large number of facilities available to them like swimming pools, gymnasiums, lush green gardens, play rooms, etc.

The top builders in these cities have also followed the suit by coming up with affordable and luxury apartments in big cities like Vadodara. According to experts at Jayraj Builders, the trend is likely to continue in the coming years, which makes it even more important for the buyers to choose the right location for their dream house.

Source: Jayraj Builders

Space-saving tips by Jayraj Builders to make your home appear bigger

Everyone wants a bigger, more comfortable home. Ever wondered how can your tiny nest be transformed into a spacious home? With latest advancements in interior design, this seemingly impossible task has become possible. Interior design experts at Jayraj Builders Vadodara have come up with some marvelous ways to create some extra space in smaller homes.

Keep it minimal

If you live in a rented house or cannot afford to remodel your house, you can pull out some extra space by moving the junk out. There so much stuff crammed in our homes that we seldom use. Keep only the stuff that you really need and donate or sell the extra stuff. A tidy arrangement of the things that are left would make your home appear more spacious than ever.

Let there be light…

Lighting plays a very important role in the overall appearance of a room. In order to make your home look bigger, you can try removing the blinds and letting the sunshine do its magic. According to interior experts at Jayraj Builders, natural light tends to brighten up the surroundings, making a room look bigger. Alternatively, you could use indoor lights to create an optical illusion of a room being bigger than it actually is. Light colored wallpapers and paints also do the trick.

Fold it up!

To create some extra space in your not-so-big apartment, you can replace your conventional beds and sofas into those which could be folded and transformed into something that takes up a tad less space. A bed that folds up and poses as a wall, racks that could be folded up into blinds, or a sofa that could be folded and transformed into a bunk bed are some of the options available.

Perfect fit

Another way to free up some space in your home is to use pieces of furniture that could fit into each other, suggest interior design specialists at Jayraj Builders. A set of chairs that could fit up into one unit or a tea table that could fit with its chairs in the shape of a cocoon are some of the examples.

Have another space-saving idea? Let us know.

Source: Horizon Cottages

Jayraj Builders help create the Perfect Summer Ambience in Your Home

Winter is long gone and summer is here. It’s not just a season; it’s a mood that is often characterized by a clear blue sky and a warm, sunny afternoon with colorful flowers blooming in the garden. The warm season can be made even more pleasant with the right décor for your home. Experts at Jayraj Builders have come up with some brilliant ideas to make your abode epitome of leisure this summer.

Update your furniture

Replace the dark, rusty looking furniture with chairs in bright colors like yellow, green and blue. You can also paint your existing furniture in bright colors using some glossy paint. However, do not forget to prime your furniture before you paint it so that the paint lasts long.

The center of all the attraction – the center table

Give your conventional coffee table a makeover by placing bright table cloth. To make it an eye candy, you can accessorize the table with natural elements like a glass bowl full of sea shells and a bouquet of fresh flowers in warm colors like red and yellow.

Boho to the rescue

Rope in some Bohemian elements to make your home look even more chic. Interior designers at Jayraj Builders suggest using vibrant colored art pieces and cushion covers with bold motifs to accentuate the look of the living room. Bedrooms can be given a Bohemian makeover by keeping the walls light colored and using bright bed sheets with artistic prints.

Light-weight drapes

Dark and heavy curtains and woolen rugs are so wintry! Stack them in your storehouse to use them again in the winters and use light-weight drapes in the summer. Linen curtains in summery hues like blue, green or yellow would brighten up your living room, making it look cheerful and livelier.

Go Green

Give your home a touch of freshness by placing some plants inside your home. Indoor plants like African Violet, Geranium and Jasmine act as natural air fresheners by purifying the air inside your home. Their soothing fragrance would relax your nerves by creating a serene environment.

With these easy tips from Jayraj Builders, you can transform your home into your own magical summer palace.

Source: Article

Jayraj Builder’s Award-Winning Structures That Took Vadodara’s Realty Sector To New Heights

Vadodara has emerged as a prominent hub for real estate investments in Gujarat over the last two decades. Its geographical location as well as the legend of sage Vishwamitra’s boon are widely believed to be the chief factors behind the Banyan city’s prosperity. However, the work of prominent builders in the city like Jayraj Builders, which gradually catapulted the realty scenario of Vadodara, is often overlooked while assessing the progress of the city. Jayraj Builders Vadodara stands apart from the other real estate players owing to the project quality and client satisfaction index. Under the leadership of its founder Jayesh Dave, the developer has earned several awards and accolades for its residential as well as commercial projects.

Here are some of their award-winning structures that substantially raised the standards of construction in Vadodara.
Take a look:

Award Wining Projects Constructed Under The Leadership of Jayesh Dave Founder Jayraj Group

Blue Chip

Located near Baroda Stock Exchange (Sayaji Gunj), Blue Chip is one of the best-selling projects by Jayesh Dave’s Jayraj Group. The semi-circular commercial complex comprises of shops and offices, and is seven-storey high. The project boasts of glass lifts, wall to wall marble flooring and a central atrium. The project also won the National Award for the Best Commercial Project of the year 1999 by Indian Institute of Architecture.

Aishwarya

Caressed by fresh breezes from the Arabian Sea and bathed in rich sunlight, Aishwarya is located in the elite Race Course area of Vadodara. The project offers an unhindered view of the surroundings with the complete absence of any tall structures in the vicinity of the project site. For the architectural planning and layouts of houses within Aishwarya, Jayraj Group MD Jayesh Dave incorporated suggestions by the customers from their earlier projects. The project won National Award for the Best Residential Project of the year 2000 by Indian Institute of Architecture.

Nisarg

Located off the Old Padra Road, adjoining the Vaccine Institute, Nisarg is another award-winning architectural marvel by Jayraj Builders Vadodara. Sporting ‘state of the art’ infrastructure and lush green surroundings, Nisarg is the recipient of National Award for the Best Residential Project of the year 1998 by Indian Institute of Architecture. With the Ahmedabad-Mumbai bullet train project touching Vadodara, the city continues to expand its wings. The contribution of developers like Jayraj Builders to the city’s progress is invaluable.

Source: Jayraj Builders

Jayraj Builders Vadodara Explains some Commonly used Real Estate Terms

Source: Horizon Cottages

If you are looking for investing in real estate for the first time, you might have come across a lot of terms that would’ve left you confused. It’s only natural; however, it ought not to remain the same. Jayraj Builders Vadodara simplify some commonly used real estate terms for you. Take a look:

Credit score

Credit score refers to your capability to repay the loan (home loan or any other) you plan to take on the basis of your salary, financial strength, bank statements, and background check. A good credit score makes it easier to get the loan application approved.

Real Estate Broker

Though often confused with one another, there exists a major difference between a broker and an agent, quip realty experts from Jayraj Builders Vadodara. While the latter is equipped with a real estate license that allows them to assist in property associated matters like buying and selling, it is the former that has qualified the state’s broker exam and has a certain number of successful deals as feathers to their hat.

Lease Agreement

Lease Agreement is a legally binding contract between the landlord and tenant that specifies the details associated with the deal, such as the details of both parties, rent payable, monthly bifurcation, lease commencement and expiration date, security amount, etc. These terms are mutually agreed upon and signed by both the parties involved. Additional clauses can also be added as per discussion, suggests realty expert Jayesh Dave, founder and owner of Jayraj Builders Vadodara.

Carpet Area

Although this term has grown out of use lately, it remains undeniably the most important factor to consider while buying a residential property. Carpet area refers to the area that can be used by the resident to set up their home. It excludes the area covered by balconies, lobby, outer walls, etc. Note that built-up area factors in the area occupied by the aforementioned. Jayesh Dave founder of Jayraj Builders suggest buying the property based on carpet area only.

Super built up area

As the name suggests, super built up area includes the carpet area along with the extra areas like stairs, lobby, balconies, lifts, etc. In other words, all the area that is ‘saleable’. This is also one of the major reasons why most developers decide the final cost on the basis of cost per square feet, quip realty expert Jayesh Dave from Jayraj Builders.

Subletting

Subletting is a clause that allows the tenant in a property to rent a part (say, a spare bedroom) to an outsider, or sub-tenant, and take the rent from them for that area, without the involvement of the property owner. However, if done without the knowledge of owner, this can lead to immediate action of vacating the property, suggests Jayraj Builders.

Any other real estate term you need to be explained? Let us know in the comments section!

Jayesh Dave MD Jayraj Group enlists important documents to check before buying a new property

Buying a property, be it residential or commercial, is one of the most important decisions a person takes in his/her entire life. However, people often neglect the importance of the documents involved in the process, and end up investing in the wrong property. We asked Jayesh Dave, MD of Jayraj Builders Vadodara, for his expert advice in this regard.

While the laws governing the sale of property might vary from state to state, there are a few permissions and documents a builder or promoter must have if they are selling flats. Jayesh Dave from Jayraj Builders provided us with a concise list of documents that you should check while buying a property from any builder. Take a look:

Title deed: This document tells you whether the builder owns the property being sold and has the right to sell the property and the freedom to transfer ownership. Insist on seeing the original document, instead of a copy of the title deed. This will also tell you whether everything is legal or not. According to Jayraj Builders Vadodara MD, every buyer should check the original deed, confirming that the land is in the name of developer, in order to make sure that no one else has right to sell it. It is recommended to get the title reviewed by a lawyer.

Intimation of disapproval (IOD): A set of permissions which must be obtained by a developer at various stages of construction, an IOD keeps trouble out of your property’s way. IOD usually includes approvals and a No Objection Certificate (NOC) from various departments such as the Storm Water and Drain Department, Sewage Departments, Forest Department, Environment Department, Chief Fire Officer, Traffic and Coordination Department, Airport Authority and Pollution Board, among others.

Commencement certificate (CC): This document must be issued by the local authorities. It legally allows a builder to start the actual construction work. Builder Jayesh Dave explains that this is important as any construction without procuring a CC is illegal.

Encumbrance certificate: This document can be obtained from the office of the registration authority (the sub registrar’s office) and tells you whether the property carries any legal or monetary liabilities or has any litigations pending. It can date as far back as 30 years.

Approved layout plans: The layout plans for the property should be approved by the appropriate planning authorities. According to Jayesh Dave from Jayraj Builders, property buyers need to exercise caution as there have been cases where developers deviated from the approved layouts, by adding extra floors or reducing open areas.

Purchase agreement: This is one of the most important documents involved in any property transaction. You should go through the purchase agreement carefully to make sure it includes everything you were promised. You can only hold a builder or promoter legally accountable for what is in the purchase agreement, not for anything that has been verbally promised to you.

Occupancy certificate (OC): This certificate is issued by the local authorities, and states that the property has been constructed in compliance with the provided permissions. As told by Jayesh Dave, the developer would have completed all necessary water, sewage and electrical connections at this stage.

We hope this list of important documents helps you choose the right property.

Source: Jayraj Builders